(PDF) Managing a Successful Business Project | Assignment

MANAGING A
SUCCESSFUL
BUSINESS PROJECT

Table of Contents
TITLE..............................................................................................................................................1
TASK 1- Project Plan .....................................................................................................................1
1) Explanation of the proposed topic and the reason behind choosing it...............................1
2) Aims and objectives of the proposed research...................................................................1
3) Scope and limitation of the project....................................................................................2
4) Resources and cost considerations.....................................................................................2
5) Gantt chart and work break down structure to provide time-frames and stages for
completion..............................................................................................................................3
6) Risk register including main risks with the proposed research..........................................5
TASK 2- Project Report ..................................................................................................................6
Chapter 1: Introduction ...................................................................................................................6
Chapter 2: Literature review............................................................................................................8
Chapter 3: Methodology................................................................................................................10
Chapter 4: Results .........................................................................................................................14
Chapter 5: Conclusion and recommendation.................................................................................23
Chapter 6: Reflection ....................................................................................................................24
CONCLUSION.............................................................................................................................26
REFERENCES................................................................................................................................1

TITLE
“To identify the risks and benefits of a joint business venture to enter international
market. A case study on Marks & Spencer and Fabiani”.
TASK 1- Project Plan
1) Explanation of the proposed topic and the reason behind choosing it
Marks & Spencer is a Britain based fashion retailing company which specialised in
offering home products, cloths and food items. Organisation was established by Michael Marks
and Thomas Spencer in 1884. At present, company is successfully operating approx 980 stores
within UK. As company operates at global level, to enhance its business presence in African
continent M&S is going to joint venture with Fabiani which is a clothing retailer company
offering high quality fabrics and cut suits. Fabiani is renowned for its style, passion and quality
which is offered to customers. Thus, joint venture of M&S and Fabiani will results in achieving
successful outcomes for both companies.
M&S is going to expand its presence in South Africa due to some specific reasons. The
main reason behind choosing this destination is its wide population. Due to high population and
people preferring trendy products, South African markets promises high revenues and
profitability to the company. After Brexit, firms within UK have got considerably impacted. To
overcome its impact, company is expanding its presence in new international market.
2) Aims and objectives of the proposed research
Aims:
“To identify the risk and benefits of joint business venture with Fabiani company in
Africa. A case study on Marks & Spencer”.
Objectives:
 To understand the concept of Joint venture
 To evaluate the benefits of joint venture for M&S while expanding their business
presence in South Africa with Fabiani company.
 To analyse the risks associated with joint business venture for M&S while expanding
their business in South Africa with Fabiani.
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3) Scope and limitation of the project
From the company perspective, it can be considered that the scope of this project will be
wider. This is because while expanding its business presence in Africa, M&S will formulate
different strategies and planning that will results in increment of sales and revenues which will
also enhance the scope of the sector in which M&S is operating. In case of researcher, scope of
research will be high. Research is performed with the help of qualitative method in which new
data and information will be collected with the help of questionnaire. This questionnaire is going
to be filled by employees and customers of M&S. This research will benefits the researcher in
enhancing its both personal and professional knowledge which will helps in sustaining a high
career growth. Due to this, scope of research is very high
Limitations associated with project: M&S is going to joint venture with Fabiani so that
its business presence can be expanded within Africa. In achieving this, a project is initiated by
the company but it includes some limitations (Dutta and Bose, 2015). Some of these are
mentioned below:
 In case of company, lack in data or information can be a limit to the scope of the project.
As South Africa is a new market for M&S, it is essential for manager of company to
analyse market conditions and preferences properly otherwise joint venture can results in
business failure.
 In case of researcher, limited access to data, people and organisation along with weak
communication skills can be a big limitation. As this will limits the ability of researcher
to carry-out research.
 Difference in culture and language in-fluency can be another potential limitation while
perusing research.
4) Resources and cost considerations
Resources helps the project manager in acknowledging those materials that are required
to perform project operations desirably. In case of M&S, potential resources of company are
technology, financial resources, human resources, machinery etc. as all these materials will allow
the firm to earn high revenues and profitability within international market. For researcher point
of view, main resources will be Online surveys, books, journals, magazines, social media etc.
Cost is another essential aspect which must be considered by project manager in M&S, so
that the revenues and profit margins of the company can be managed and retained properly. To
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conduct appropriate research, estimated cost required by researcher will be 120 pounds. In case
of M&S, estimated cost is 157,000 pounds. The researcher will utilise this cost in travelling
purpose for gathering the information required for conducting the research.
Total forecasted budget
Particular 2018-19($)
Implementing technology cost 17000
Promotional expense 50000
Advertisement expense 35000
Catalogues 10000
Training charges 45000
Total cost 157000
5) Gantt chart and work break down structure to provide time-frames and stages for completion
Work break-down structure: It is defined as deliverable oriented breakdown of a
project in small manageable components. It is a key project deliverable which organises the
project work into smaller sections (Tidd and Bessant, 2018). This structure will helps in
identifying potential risks in project which is initiated by M&S to expand their presence in
African continent.
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Gantt chart: It is defined as a graphical representation of a project schedule. This is a
bar chart that specifies the initiation and end dates of different elements of a project along with
resources. It will benefits the project manager of M&S to acknowledge dependency relation
between diffident project activities in a desired way (Dutta and Bose, 2015).
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6) Risk register including main risks with the proposed research
Risk register is a technique that will assists in documenting risks and an action plan to
manage those risk. To manage risk successfully, it is essential for project manager of M&S to
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formulate an effective risk register so that potential risk while expanding business in South
Africa can be acknowledged.
S.
No.
Risk
Description
Likelih
ood
Impact Mitigation Contingen
cy
Pre
action
weightin
g score
out of 10
Post
action
weightin
g Score
out of 10
1 Over cost risk High High Keep a proper
record for costs
and expanses,
cheap resources
Arrange
alternate
resources
which are
cheaper
7 5
2 Technological
risk
high high Updating of
software and
online
applications
Implement
new
technology
on regular
basis
7 6
3 Operational
risk
Mediu
m
Low By performing
operational
activities in a
systematic
manner
Before
implementi
ng a
strategy,
consider its
outcomes
so that
undesired
strategies
can be
avoided.
1 3
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TASK 2- Project Report
Chapter 1: Introduction
Background of the study
Managing a project is a one of the most crucial aspect in management. Project
management is specified as a combination of procedures to attain a management objective with a
specific time-frame. To manage a project in a successful manner specific skill, knowledge, tools
and techniques are required. Every project requires specific amount of resources so that all the
business related activities can be performed desirably. For this particular research, the chosen
company is Marks & Spencer which is a British retailer organisation dealing in clothing, food
products and luxurious home products. It is a public limited company which was established in
1884 by Michael Marks and Thomas Spencer. Headquarter of M&S is registered at London, UK.
At present, company posses a successful online presence in Europe, Asia, Australia, North
America and middle east Asia (Fageha and Aibinu, 2013). Company have maintained successful
joint ventures in Greece, India and Czech. To expand its business further so that high
profitability can be achieved, company is going to joint venture with Fabiani which is a retail
company offering suit cuttings and high quality fabric. Firm was founded at 1978 in st. George's
Mall, Cape town. At present this company has 25 stores countrywide. Joint venturing with
Fabiani will benefits M&S in gaining competitive advantage over rival companies at global
level.
Rationale of the study
Main reason for selecting the topic “ risks and benefits of a joint business venture to enter
international market” is to understand that what kind of risks and benefits a company can
encounter while expanding their business in international market or at global level. This research
will helps in understanding all those aspects which are required to be acknowledged to sustain a
firm position within new market (Storey, Basterretxea and Salaman, 2014). Risks such as small
market size, currency change fluctuation, cultural differences, market instability will be
acknowledged with this research in an appropriate manner. Before joint venturing with another
company, M&S needs to acknowledge all the important aspects which can be a potential risks for
company in future. By this, company can eliminate those aspects which can acts as a barrier in
the success of M&S. If company joint venture with Fabiani without analysing all conditions
properly, then this collaboration can results in business failure too.
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The concerned project is based on the analysing the risks and benefits that can be faced
by a company during a joint business venture with other organisation to expand its business
presence within international market. This is one of the best method to expand business presence
of M&S in South Africa as Fibiani is already a well established company in South Africa due to
which products offered during joint-venture will be widely accepted by existing customer base of
Fabiani (Jeston, 2014). By this revenue and market shares of company will enhance at global
level. Therefore outcomes associated with a joint business venture highly depends upon the
research which is carried out to examine the new market where company is going to expand its
presence.
Aims:
“To identify the risk and benefits of joint business venture with Fabiani company in
Africa. A case study on Marks & Spencer”.
Objectives:
 To understand the concept of Joint venture
 To evaluate the benefits of joint venture for M&S while expanding their business
presence in South Africa with Fabiani company.
 To analyse the risks associated with joint business venture for M&S while expanding
their business in South Africa with Fabiani.
Chapter 2: Literature review
Literature review is a kind of scholarly paper that involves the substantive and current
knowledge about a specific topic. Along with this, methodological and theoretical contributions
for a particular topic are also specified. These are secondary resources and doesn't denote any
new report & experimental research and findings of literature review are founded in academic
journals (Nicholas and Steyn, 2017). Literature reviews are of three kinds i.e. exploratory,
evaluative and instrumental. Main objectives of this literature review is to survey the literatures
associated with risks and benefits of joint business venture in international market. All the
required information will be transformed into a summery. Also critical analysis of gathered
information will takes place due to which positive and negative aspects of joint business venture
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will be acknowledged in a desirable manner. Literature review benefits the researcher in
justifying the reason for research in a convincing manner.
Concept of Joint venture
INTRODUCTION
Joint venture is a temporary kind of business activity that is performed by more than one
organisation to earn high profitability in a contractual manner. When the business venture will be
completed, this joint partnership will be over. Business persons which enters into this kind of
partnership is called co-venturing.
MAIN BODY
According to Kenton. W, 2018 “ A joint venture is described as a business arrangement
in which different organisations usually two parties share their resources so that business
objectives can be accomplished in a desired manner.” These business objectives can either be a
new business activity or project. In case of joint business venture between M&S and Fabiani,
both organisations will be responsible for costs, expanses, losses or profits. Hence, this business
venture will have a specific identity which is separate form the identities of parent companies.
CONCLUSION
To form business venture, M&S and Fabiani must sign some sort of written agreement so
that all the terms and conditions related with businesses can be stated clearly. After joint
venturing, M&S and Fabiani will contribute physical, managerial, intellectual and financial
resources so that business activities can be carried out properly. Also, risks and returns will also
be shared in a predetermined ratio.
Benefits of joint venture for M&S while expanding their business presence in South Africa with
Fabiani company
INTRODUCTION
There are many benefits to the companies for joining their business interests such as
shared expenses, enhanced credibility, intellectual and product property gains, new market
penetration, large market reach etc. A business joint venture will enable the growth of a company
without borrowing finances and funds or looking for investment form outside.
MAIN BODY
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According to Martyak. M, 2014, there are various benefits of joint business ventures to
organisations of all size. Usually a joint venture takes place between a large and small or
medium scale organisation. As per the opinion of Murray. J, 2019, an organisation will form
joint business ventures to combine resources so that no shortage of resources will be faced by
company during business operations. Also to combine expertise, so that different activities will
be carried out by experts and specialists according to their business field. Also, joint venture will
benefit M&S in saving their money in promotion and advertising their products and offerings as
expanses will be shared by both companies.
CONCLUSION
From above information it is concluded that this business expansion method is flexible as
it can have a limited lifespan or until both parties wants to maintain business relationship. By
this, it will be easy for M&S to attain its expected goals in a specific manner. By this, M&S will
be benefited to expand their presence in South Africa with the help of Fabiani company.
Risks associated with joint business venture for M&S while expanding their business in South
Africa with Fabiani
INTRODUCTION
There are some risks which are involved in business ventures such as it lacks in
specifying the clarity regarding responsibilities and obligations of each partners. Due to business
venture in two different parties, clashes due to respective management styles can also takes
place.
MAIN BODY
According to Chowne. P, 2017 “ A joint venture seems like partnership but these two
aspects are very different from one another in their tenure. Joint ventures are goal specific and
get dissolved when these objectives will be realised. As techniques of both M&S and Fabiani to
manage business will be different, this can results in issues and conflicts. Other than that,
imbalance in resources and capitals which will be invested by both companies can be faced. This
will be due to the conflicts of interest (Polonsky and Waller, 2018). If both organisations i.e.
Marks & Spencer and Fabiani will have different business objectives and expectations then this
joint business venture will fail due to which both companies will have to face heavy loss of
revenues and market shares.
CONCLUSION
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Therefore, it can be concluded that success in a joint venture can be achieved with the
help of comprehensive research and in-depth analysis of the specified aims & objectives
(Hillson, 2017). If M&S wants to maintain a successful business venture then it is important for
the manager in company to communicate business plan with ventured organisation in a clear and
efficient manner.
Chapter 3: Methodology
Research methodology is defined as a systematic plan to conduct research in an
appropriate and efficient manner. This methodology involves quantitative and qualitative
research methods which includes surveys, research, secondary data, observation, experiments
etc. These quantitative methods are aimed to create statistical models and classify features to
verify hypothesis and related observations whereas qualitative methods are aimed for a detailed
and complete description of observations that involves context of circumstances and events
(Hillson, 2017).
Main purpose of adopting research methodology is to observe participants or subjects in
a unchanged and natural environment. It can be a pre-cursor to future research as it will helps the
researcher in finding variables which can be tested to attain desired outcomes. Collected data
will benefits in understanding the in-depth information due to which it will became easy for
M&S to acknowledge the risks and benefits associated with joint business venture to expand
business in international market. For this purpose, research onion framework is used.
Research onion framework:
It is used to explain the research methodology in an appropriate manner. This framework
will provide an efficient progression by which an appropriate research methodologies can be
defined. This will help M&S in acknowledging if business venture with Fabiani will be
beneficial or not. It is useful for every kind of research and includes different layers. Various
layers associated with research onion framework are specified below:
 Research philosophy: A research philosophy is defined as a belief about the way
according to which data is used, gathered and analysed. It is the outermost layer in
research onion. This philosophy is of three kinds i.e. pragmatist, positivist and
interpretivist. For this research, researcher has used interpretivist research philosophy in
which in-depth knowledge of topic is carried out with the help of interviews and
observations.
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 Research approach: Next layer associated with research onion is research approach and
it is of two types i.e. inductive and deductive approach. In this research, deductive
approach will be taken as it will provide comprehension of different understandings
related with risks and benefits of business joint venture in expanding business at
international market. Deductive research approach will offer observations which will be
required to acknowledge research outcomes properly.
 Research strategy: It is a step by step action plan which gives a desired direction to
efforts and thoughts of researcher so that research can be carried out in a systematic
manner and within predetermined time so that quality results can be achieved. Researcher
will synchronise data in a desired way so that effective results can be achieved. For this
purpose, a questionnaire will be prepared.
 Research choice: This layer of research onion chooses either quantitative or qualitative
approach so that a consistent outcome can be achieved. In this research, qualitative
approach is used to collect relevant data. This research choice will benefits the researcher
in collecting raw and new data which have not been used before. Goal of qualitative
approach will be to provide detailed description or content for specific situations. In this
context, a questionnaire is preprepared. To fill this questionnaire randomly 50 people are
selected. These respondents are the customers and employees working in M&S. Their
opinion will be considered as the opinion of entire population.
 Time Horizon: In this layer of research onion a cross-sectional timing will be used and
the research will be carried out in 8 weeks. In this, the main emphasize of the researcher
will be on current situation only so that benefits and risks related with business joint
venture can be acknowledged accordingly. .
 Techniques, procedures and research instruments: It is the final layer associated with
research onion which is related with procedures and techniques. These techniques are of
two kinds i.e. primary and secondary. For this research, data is taken from both primary
and secondary method. In case of primary research, a questionnaire is prepared.
Secondary research is carried out with the help of literature review. By using these
methods, in-depth knowledge will be collected due to which specified interpretations will
be accurate.
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 Data sources: These are of two kinds i.e. primary and secondary data source. Primary
data sources are referred to first handed data that is collected by the researcher itself. It
includes surveys, questionnaire, personal interviews, observations, experiments etc.
Under primary method a structured questionnaire will be prepared which will be filled by
specific number of respondents. It will represent the opinion of people about joint
ventures regarding business expansion in international market. Secondary data sources
are collected by some other people and they are already published in some books,
magazines or online journals. To get specific and relevant data, both data sources methos
will be used in this research.
 Research sampling: Sampling is a procedure in which a specific part of population is
selected out of entire population. Research sampling will ensures that the views and
opinions of people are given considerations and entire research is carried out according to
their perspective. In this research, 20 employees and 30 customers are taken as
respondents.
 Research ethics: As this research includes primary method, research ethics will be
implemented to assure that relevant and robust results will be achieved. These principles
must involves anonymity, confidentiality and informed consent. If respondent is not
giving its consent then researcher have no rights to ask them questions or take their
interview and during research, private information of respondents needs to be anonymous
and confidential.
 Research limitations: The main limitation for this research is cost and the capability of
researcher to include more number of respondents for questionnaire. For managing costs
and expanses, help from family and friends have been taken. To include more number of
respondents, researcher needs to manage time in an appropriate and efficient manner. By
this, more time will be available to researcher to acknowledge the opinion of customers.
 Research reliability and validity: Reliability of this research is to execute test
instrument i.e. questionnaire. To understand the consistency of questionnaire, different
respondents are selected (Larson and Chang, 2016). Those questions which were not
understandable by people were changed due to which reliable responses will be gathered
by researcher. For validity also, this questionnaire can be used as respondents will be
given chance to select their desired response out of negative, positive or no response.
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 Research budget: This research is going to be carried out with the help of internet and
desktop research. Most of the expanses and cost will be due to primary research. For this
particular research, estimated budget is 300 pounds.
Chapter 4: Results
Data analysis:
It is the procedure of cleansing, modelling, transforming and inspecting data with the
objective of discovering relevant information. This analysis has multiple approaches and facets
which encompasses diverse techniques. Data analysis will help in taking appropriate decisions so
that M&S can get competitive advantage while expanding their business operations at
international level.
Data interpretation:
It is the process by which gathered data is made useful so that research can be carried out
in an appropriate manner. In research, interpretation of data is referred to drawing of inferences
form collected facts when an experimental or analytical study ends. Data interpretation will
results in establishing some exploratory concepts that will benefits M&S in understanding the
associated benefits and risks of joint business venturing in South Africa with Fabiani.
Qualitative research
Theme 1: Concept of Joint venture
1) Do you understand the concept of joint venture? Frequency
 Yes 38
 No 12
Interpretation: As per above picture, it shows that out of 50 respondents, 38 people
believe that they understand the concept of joint venture. These people understand that joint
venture is a technique to expand business presence in international and national market by
sharing resources, finances and other material with other company. Other 12 people stated that
they have no idea about joint venture and its related concepts.
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Theme 2: Joint business venture benefited M&S
2) Does joint business venture benefited M&S in retaining strong
position in South Africa?
Frequency
 Yes 35
 No 15
Interpretation: According to above picture, it is analysed that out of 50 respondents, 35
individuals believe that joint venture of M&S with Fabiani will helps the company in expanding
their presence in South Africa. This is because Fabiani has successful maintained a firm position
in South African market whereas remaining 15 individuals believe that joint venture with Fabiani
is not going to benefit Marks & Spencer.
Theme 3: Main reasons for M&S to expand their business operations in South Africa
3) What are the main reasons for M&S to expand their business
operations in South Africa by joint venturing with Fabiani?
Frequency
 Reduce the impact of Brexit 20
 Enhanced sales and revenues 20
 Increased brand reputation 15
Interpretation: From above shown graph, it is acknowledged that out of 50 individuals,
20 respondents believe in the fact that M&S is expanding business presence in South Africa to
reduce the impact of Brexit as company was considerably impacted due to the exit of Britain
form European Union. Other 20 respondents believe that M&S is expanding international
presence in order to attain high sales and revenues so that company can sustain a strong position
within marketplace. Remaining 10 respondents believes that to enhance their brand reputation
worldwide, M&S has decided to go for Joint business venture with Fabiani clothings.
Theme 4: Advantages of joint business venture
4) What are the advantages of joint business venture while increasing Frequency
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market presence at global level?
 Sharing of expenses 25
 Increment in market share 10
 Increased profit margins 15
Interpretation: From above described picture, it is analysed that out of 50 respondents,
25 individuals believe in the fact that joint-venture of M&S and Fabiani Clothing with benefits
the companies in sharing their expenses due to which profitability can be maintained. Other 10
individuals believe that joint business venture will benefits the company in enhancing their
market shares where as remaining 15 individuals believes that this joint venture will benefits
M&S in increasing their profit margins in a considerable manner.
Theme 5: Resources required by M&S to operate their business activities
5) What are the resources required by M&S to operate their business
activities in South Africa ?
Frequency
 Investment 30
 Capable working staff 10
 Technology 10
Interpretation: From above described graph, it is understood that out of total 50
respondents, 30 people believe that the most important resource required by M&S to operate
their business activities is investment. Without investment, it is not possible for any company to
allocate funds and resources so that all the work can be carried out efficiently. Other 10 people
thinks that to operate business in an efficient and profitable manner, an organisation required
capable working staff where as other 10 people believes that technology is the main resource that
helps a company to perform its business activities in a proper manner.
Theme 6: External factors affecting company while operating at an international level
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1) Which external factors will affect company while operating at an
international level?
Frequency
 Political 20
 Economical 10
 Social 20
Interpretation: As per this picture, it is analysed that out of 50 individuals, 20
respondents believes that political factors of a nation effects a company while operating in new
market. This is because a company has to formulate all its policies and procedures according to
the government regulations. A slight change in the laws and rules of government can impacts the
organisational structure in a considerable manner. 10 individuals states that economical factors
effects the most whereas other 20 people believes in the fact that social factors of a country
affects the business operations of a company.
Theme 7: Barriers exist during joint venture with another organisation
2) What kind of barriers may exist during joint venture with another
organisation?
Frequency
 Lack of understanding 10
 Varying business objectives 15
 Conflicts due to different management styles 25
Interpretation: From above shown picture, it is stated that out of 50 people, 10
respondents agree with the fact that lack of understanding between companies can be a potential
barrier during joint ventures as every firm have their own management and organisational
structure. Other 15 people believes that different business targets and objectives can acts as a
barrier during joint business ventures whereas remaining 25 people agrees with the fact that
difference in management structure can act as a barrier during for companies during joint
business ventures.
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Theme 8: Measures to eliminate barriers
3) How barriers can be eliminated so that international business can be
run smoothly?
Frequency
 By conducting frequent seminars and meeting 20
 By communicating clear vision with partnered organisation 30
Interpretation: Form above described graph, it can be interpreted that out of 50
respondents, 20 people agrees that by conducting meetings and seminars on regular basis the
barriers during joint ventures can be eliminated efficiently. With the help of meetings and
seminars, proper communication and interaction among all concerned parties will takes place
due to which all issues and problems will be resolved in an appropriate manner. Other 30 people
believes that communicating clear vision with partnered company will benefits the company in
avoiding barriers that may arise during joint business venture.
Theme 9: Potential risk associated with joint venture
4) What is the potential risk associated with joint venture while
entering into new market?
Frequency
 Lack of funds 15
 Business failure 15
 Imbalance between resources and capital invested by partners. 20
Interpretation: From above mentioned graph, it is analysed that out of 50 people, 15
individuals agrees with the fact that lack of funds can be a potential risk which can be faced by
M&S during their business presence in South Africa. This is because without capital and money,
it is not possible for a company to manager business operations. Other 15 individuals believe that
failing of business is a risk which can be faced by company whereas other 20 people believes
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that imbalance between the capital and resources which are invested by the concerned companies
can be a risk while operating business in a joint-venture.
Chapter 5: Conclusion and recommendation
After interpreting data in a briefly manner, it has been concluded that majority of people
agrees with the decision of M&S to joint venture with Fabiani in order to expand business
presence in South Africa. By this, company can globalise itself and perform business activities in
an appropriate manner at international level. Beside this, it can also be concluded that joint
venture will benefits M&S in expanding their popularity in South African market and company
is planning to expand their business in African continent to reduce the negative impact of Brexit.
Other than that main advantage of joint-venture to M&S will be the sharing of expenses while
performing business activities and operations. But to achieve this, capable staff and advanced
technology is required for which high investment & capital is needed by the company. External
business factors associated with a nation can effects the business activities of a company and
lack of understanding among concerned companies can results in business failure. Top avoid
this, managers and business owners of both companies can conduct meetings and seminars on a
regular basis. By this, proper interaction and communication takes place due to which
misunderstanding and mismanagement during work can be avoided. In accordance with the
above mentioned interpretations, there are some recommendations that can be given to the
company so that their business expansion at international level by joint venturing with other
company can became successful. Some of these recommendations are stated below:
 It is recommended to the manager in M&S to conduct training and development sessions
so that the main objectives and vision of M&S can be acknowledged by another company
in an appropriate manner. This will helps the company in performing joint venture
activities more appropriately.
 Another recommendation that is given to M&S is that company should analyse all the
external business aspects such as social, technological, political and economic factors of
new country in an appropriate manner so that the organisational decisions can be
implemented in accordance with that. This will benefit the company form high taxes,
penitentials and custom duties.
 It is also recommended to company that company needs to invest high in this new project
so that all business operational activities can be performed in a systematic manner
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otherwise this joint venturing results in business failure if company will face shortage of
funds to carry out necessary operations.
Chapter 6: Reflection
This repost is based on the risks and benefits to a company during joint business venture
in international market. To analyse the benefits and risks in a desired manner, I have chosen 50
respondents as a sample form total population, these sample respondents will represent the
perception and opinion of overall population. This helps me in drawing an appropriate
conclusion that will allow the company to reduce risks and enhance benefits during business
ventures. When I start working for this project, I faced some issues in managing time. To resolve
it, I have prepared a time table that helps me in decision my activities according to their priority.
Also, I had faced some problems in managing funds and interacting with random people. To
overcome money issue, I take help of my family and friends. To improve my communication and
interaction skills I have start reading books, journals, magazines etc. These measures have
benefited me in conducting my research in a proper and appropriate manner. Positive outcomes
and results for questionnaire denotes that it will be beneficial for M&S to joint business venture
with Fabiani so that organisation can expand its influence in South Africa.
Competency How I have developed in this
area
Why I need to do to develop
further in the area
Analytical skills These are problem solving
skills. To develop these skills I
have started observing opinion
and perspectives of people in
an appropriate and considerable
manner.
I need to develop these skills to
resolve issues among my team
members so that research
activities can be carried out in
a unified manner.
Research skills To develop these skills I have
take help of different primary
and secondary resources such
as books, online sources,
journals etc.
Further developing these skills
will allow me to carry-out my
future research in an efficient
manner.
20

Project planning I have developed these skills
due to my focused in different
aspects like my interaction
skills, objectives of company
and potential threats.
I require to develop further so
that I can take right decision in
a timely manner.
Communication Skill I have developed in this area by
attending several meetings and
seminars where I can interact
with different people.
Effective communication skills
will help me in conveying
necessary information to
teammates in an appropriate
manner. By this,
mismanagement will not takes
place and business operations
will be performed in an
efficient manner.
CONCLUSION
From above mentioned report, it can be concluded that joint business venture is a good
method to expand business at international level. There are some concepts with business ventures
which are needed to be acknowledged by companies before signing an agreement. Effective
strategies and business plan will benefits the company in reducing the impact of barriers that can
hinder the success of company. Analysing external business environment in a proper manner will
benefits the company in gaining competitive advantage in international market.
21

REFERENCES
Books & Journals
Dutta, D. and Bose, I., 2015. Managing a big data project: the case of ramco cements limited.
International Journal of Production Economics. 165. pp.293-306.
Fageha, M. K. and Aibinu, A. A., 2013. Managing project scope definition to improve
stakeholders’ participation and enhance project outcome. Procedia-Social and
Behavioral Sciences. 74. pp.154-164.
Larson, D. and Chang, V., 2016. A review and future direction of agile, business intelligence,
analytics and data science. International Journal of Information Management. 36(5).
pp.700-710.
Martini, A., Pareto, L. and Bosch, J., 2013, June. Improving businesses success by managing
interactions among agile teams in large organizations. In International Conference of
Software Business (pp. 60-72). Springer, Berlin, Heidelberg.
Morris, P., 2013. Reconstructing project management reprised: A knowledge perspective.
Project Management Journal. 44(5). pp.6-23.
Patanakul, P., 2015. Key attributes of effectiveness in managing project portfolio. International
Journal of Project Management. 33(5). pp.1084-1097.
Hillson, D., 2017. Managing risk in projects. Routledge.
Polonsky, M.J. and Waller, D.S., 2018. Designing and managing a research project: A business
student's guide. Sage publications.
Nicholas, J.M. and Steyn, H., 2017. Project management for engineering, business and
technology. Routledge.
Jeston, J., 2014. Business process management. Routledge.
Storey, J., Basterretxea, I. and Salaman, G., 2014. Managing and resisting ‘degeneration’in
employee-owned businesses: A comparative study of two large retailers in Spain and
the United Kingdom. Organization. 21(5). pp.626-644.
Tidd, J. and Bessant, J.R., 2018. Managing innovation: integrating technological, market and
organizational change. John Wiley & Sons.
Dutta, D. and Bose, I., 2015. Managing a big data project: the case of ramco cements
limited. International Journal of Production Economics. 165. pp.293-306.

Špundak, M., 2014. Mixed agile/traditional project management methodology–reality or
illusion?. Procedia-Social and Behavioral Sciences. 119. pp.939-948.
Thamhain, H., 2013. Managing risks in complex projects. Project management journal. 44(2).
pp.20-35.
Winter, M. and Szczepanek, T., 2017. Images of projects. Routledge.
Online
Operations and Project Management. 2019. [Online]. Available
through:<https://www.beds.ac.uk/research-ref/bmri/centres/bisc/opm>
2

APPENDIX I
Project Logbook for the chosen organisation:
Name of the learner: Name of the Supervisor:
Project Title: Date:
Update of weekly research/ tasks achieved
(Account for a minimum of six weeks with dates) What have you completed?
 Did you fulfil Task requirements?
 Are you on track and within deadlines set?
 Did you need to make any changes to your
project management plan?
Comments
“To identify the risks and benefits of a
joint business venture to enter
international market. A case study on
Marks & Spencer and Fabiani”.
Yes
Yes
No, I haven't require any changes.
Any risks and / or issues identified? Did you identify risks/issues with a lack of
skills required for undertaking research
tasks?
 Did you identify any additional risks/issues
that have an impact on the project
management plan?
Yes, I identified problem of lack in
communication and time management
Yes, I faced issues in problem solving
skills
3

Problems encountered What barriers did you face?
 How did you overcome them?
Data collection and analysis
To overcome problems, I used accurate
and reliable sources to gather data. On
the other hand scheduled and prioritised
activities on the basis of set time period.
New Ideas and change of project direction
What Have I learnt about myself this week? How did I feel when I had to deal with
tasks/problems? Did I find it useful to complete the tasks?
 How well have I performed? What did I
contribute?
 What can I improve on next week?
 How might this learning apply in the
future?
I felt nervous
Yes
I have given my best efforts by
collecting relevant, authentic and valid
data to achieve positive results
I can improve data collection tactics.
This will be helpful me in future in
conducting any project in successful
manner.
4

Tasks planned for next week
 Which tasks are priority?
 Have you set aside sufficient time for
completion?
Data collection and analysis tasks are
priority.
YES
Project plan status to date (on, ahead, behind)
Supervisor comments to address
Signature of the Supervisor and date:
APPENDIX II
Questionnaire
Qualitative research questions
1) Do you understand the concept of joint venture?
 Yes
 No
2) Does joint business venture benefited M&S in retaining strong position in South Africa?
 Yes
 No
3) What are the main reasons for M&S to expand their business operations in South Africa by
joint venturing with Fabiani?
 Reduce the impact of Brexit
 Enhanced sales and revenues
 Increased brand reputation
4) What are the advantages of joint business venture while increasing market presence at global
level?
 Sharing of expenses and cost during business operations
5

 Increment in market share
 Increased profit margins
5) What are the resources required by M&S to operate their business activities in South Africa ?
 Investment
 Capable working staff
 Technology
6) Which external factors affecting company while operating at an international level?
 Political
 Economical
 Social
7) What kind of barriers may exist during joint venture with another organisation?
 Conflicts due to different management styles
 Varying business objectives
 Lack of understanding
8) How barriers can be eliminated so that international business can be run smoothly?
 By conducting frequent seminars and meeting
 By communicating clear vision with partnered organisation
9) What is the potential risk associated with joint venture while entering into new market?
 Lack of funds
 Business failure
 Imbalance between resources and capital invested by partners.
10) Recommend some measures by which M&S can expand its operational activity in
international market......
6